Amigo Holdings PLC Scheme of Arrangement: result of 2nd Court hearing (7048Z)
May 25 2021 - 1:30AM
UK Regulatory
TIDMAMGO
RNS Number : 7048Z
Amigo Holdings PLC
25 May 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE 25 May 2021
Amigo Holdings PLC
("Amigo" or the "Company")
Scheme of Arrangement: result of second Court hearing
Amigo Holdings PLC (LSE: AMGO), a leading provider of guarantor
loans in the UK, provides an update on the Scheme of Arrangement
(the 'Scheme') of ALL Scheme Ltd ('SchemeCo') announced on 25
January 2021, following the Court sanctioning hearing which took
place on 19 May 2021.
Amigo announces that the High Court has not approved the Scheme
despite the overwhelmingly positive creditors' vote. A copy of the
Judgment can be found at www.amigoscheme.co.uk. The Board is
reviewing all options including an Appeal. A further update will be
given in due course.
To ensure equal treatment of customers with redress claims,
Amigo announced on 21 December 2020 that it was stopping the
ongoing payment of redress claims as set out in the announcement of
that date, and that position will continue.
Gary Jennison, Chief Executive Officer of Amigo, commented:
"Amigo is incredibly disappointed that the Scheme has not been
approved despite the 74,877 customers who voted in support of the
Scheme, representing over 95% of those who voted. We are currently
reviewing all our options and will provide an update at the
earliest opportunity."
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014. The
person responsible for this announcement is Roger Bennett, Company
Secretary.
Company
Amigo Holdings PLC investors@amigo.me
Kate Patrick Head of Investor Relations
Roger Bennett Company Secretary
Media
Hawthorn Advisors amigo@hawthornadvisors.com
Lorna Cobbett Tel: +44 (0)7771 344 781
Additional information
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities, or the solicitation of any
vote or approval in any jurisdiction, pursuant to this announcement
or otherwise.
Senior Secured Notes
This announcement constitutes notice by Amigo Luxembourg S.A.
(the "Issuer") to the holders of the Issuer's 7.625% Senior Secured
Notes due 2024 (for the notes issued pursuant to Rule 144A of the
United States Securities Act of 1933, ISIN: XS1533928468 and Common
Code: 153392846; for the notes issued pursuant to Regulation S of
the United States Securities Act of 1933, ISIN: XS1533928625 and
Common Code: 153392862) (the "Notes") issued pursuant to pursuant
to Section 4.03(a)(3) of an indenture dated January 20, 2017 among,
inter alia, the Issuer, the guarantors named therein and U.S. Bank
Trustees Limited, as trustee and security agent. Amigo Holdings PLC
is the indirect parent company of the Issuer. This announcement
shall constitute a "Report" to holders of the Notes.
-ENDS-
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
SOAPPURPAUPGUAA
(END) Dow Jones Newswires
May 25, 2021 02:30 ET (06:30 GMT)
Amigo (LSE:AMGO)
Historical Stock Chart
From Apr 2024 to May 2024
Amigo (LSE:AMGO)
Historical Stock Chart
From May 2023 to May 2024